Insider Selling: Zillow Group (NASDAQ:ZG) CFO Sells $193,492.98 in Stock

Zillow Group, Inc. (NASDAQ:ZG) CFO Jeremy Hofmann sold 5,661 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $34.18, for a total value of $193,492.98. Following the completion of the sale, the chief financial officer directly owned 59,144 shares of the company’s stock, valued at approximately $2,021,541.92. The trade was a 8.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Jeremy Hofmann also recently made the following trade(s):

• On Thursday, August 13th, Jeremy Hofmann sold 3,510 shares of Zillow Group stock. The shares were sold at an average price of $34.24, for a total transaction of $120,182.40.

Zillow Group Stock Performance

ZG traded down $0.84 during trading on Monday, reaching $34.32. 1,454,360 shares of the stock were exchanged, compared to its average volume of 1,202,979. The stock’s 50 day moving average price is $33.03 and its two-hundred day moving average price is $40.23. Zillow Group, Inc. has a twelve month low of $29.03 and a twelve month high of $90.22. The stock has a market cap of $7.72 billion, a P/E ratio of 156.01, a price-to-earnings-growth ratio of 1.53 and a beta of 1.95.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The firm had revenue of $772.00 million during the quarter, compared to analysts’ expectations of $758.25 million. During the same quarter last year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. Equities research analysts predict that Zillow Group, Inc. will post 0.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ZG has been the topic of a number of recent analyst reports. Barclays lowered their price target on Zillow Group from $58.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Friday, May 8th. Wells Fargo & Company decreased their price objective on Zillow Group from $46.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, August 7th. DA Davidson dropped their price target on shares of Zillow Group from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Benchmark dropped their price target on Zillow Group from $110.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, KeyCorp reduced their price objective on shares of Zillow Group from $65.00 to $57.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. Eleven analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $52.29.

Institutional Investors Weigh In On Zillow Group

A number of large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its position in shares of Zillow Group by 10.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,156 shares of the technology company’s stock worth $147,000 after buying an additional 198 shares during the last quarter. Lido Advisors LLC boosted its stake in Zillow Group by 0.4% in the fourth quarter. Lido Advisors LLC now owns 50,846 shares of the technology company’s stock valued at $3,627,000 after buying an additional 215 shares in the last quarter. Royal London Asset Management Ltd. grew its position in Zillow Group by 1.4% in the second quarter. Royal London Asset Management Ltd. now owns 18,217 shares of the technology company’s stock valued at $1,248,000 after acquiring an additional 247 shares during the last quarter. Mackenzie Financial Corp grew its position in Zillow Group by 8.5% in the third quarter. Mackenzie Financial Corp now owns 3,301 shares of the technology company’s stock valued at $246,000 after acquiring an additional 258 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake in Zillow Group by 9.2% during the second quarter. California State Teachers Retirement System now owns 3,147 shares of the technology company’s stock worth $216,000 after acquiring an additional 264 shares in the last quarter. Institutional investors and hedge funds own 20.32% of the company’s stock.

Zillow Group Company Profile

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.